The $700 Billion Bailout!

What the hell is going on here? have we lost our minds to allow these politicians and bankers handling $700 Billion dollars of our hard earned tax dollars!  Instead of handing the money to the banks why not start a fund that helps homeowners in trouble and the tax payers get a equity position on the real esatte they are bailing out? in the long run we will make money rather that just giving it to the bankers to line their pockets for the mistakes and greedy little deals they made in the past, Im all for helping the economy but I'm not for just handing over the money because the president says so.